• Gift to friend

can any one gift cash 10 crore to his friend? what will be the procedure of gifting money?
Asked 11 years ago in Civil Law

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4 Answers

You can't gift the money to your friend.......

Pradeep Bharathipura
Advocate, Bangalore
5617 Answers
339 Consultations

what is source of your funds ? is cash declared in income tax returns . ?you cant make payment of more than Rs 20,000 by cash .

Ajay Sethi
Advocate, Mumbai
98762 Answers
8036 Consultations

you can gift ,but your friend will have to pay gift tax on that amount

Rajeev Bari
Advocate, New Delhi
1506 Answers
92 Consultations

You may make the gift, but it will be liable to gift tax. Furthermore, the same shall have to be reflected in your income tax returns.

Ashish Davessar
Advocate, Jaipur
30830 Answers
976 Consultations

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